Just over a year after Scotland rejected independence from the UK in a national referendum, thereby retaining the pound sterling as its currency, a member of parliament for the Scottish National Party (SNP) has called for his country to begin experimenting with digital currency. George Kerevan, MP for East Lothian, said that a bitcoin-like currency could help overcome Scotland’s reliance on the pound.
Kerevan, who also serves on the House of Commons Treasury Select Committee, made the comments during an event at the SNP conference in Aberdeen this week. His proposal centres around a recently published report by the New Economics Foundation that suggested a new digital currency called the ScotPound could be introduced by the Scottish Parliament.
The report claimed that a new currency and payment system would provide a number of new social and economic benefits to Scotland, while still operating alongside sterling. The ScotPound proposal stated that a 250 ScotPound dividend would be given to each Scottish citizen, similar to Aurora “airdrop” that saw citizens of Iceland receive sums of an unofficial national cryptocurrency.
“I am absolutely in favour of experimenting,” Kerevan told Buzzfeed News. “If you wish to persuade people there are alternatives